Teva Pharmaceutical Industries (NYSE:TEVA) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Teva Pharmaceutical Industries to a “buy” from “hold,” adding to a generally positive analyst backdrop for the stock.
• Other analysts have also turned bullish, with JPMorgan, Truist, Bank of America and Piper Sandler raising targets or reiterating positive ratings. Overall, Teva now has a Moderate Buy consensus and an average price target of $41.78.
• Teva’s latest quarterly results showed $0.53 EPS on $3.98 billion in revenue, while recent business updates highlighted progress in AUSTEDO data and a European biosimilars expansion with AHZANTIVE.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Teva Pharmaceutical Industries from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Truist Financial lifted their price objective on shares of Teva Pharmaceutical Industries from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Teva Pharmaceutical Industries in a research note on Monday, April 20th. Bank of America lifted their price objective on shares of Teva Pharmaceutical Industries from $38.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Finally, Piper Sandler reissued an "overweight" rating and issued a $42.00 target price (up from $41.00) on shares of Teva Pharmaceutical Industries in a report on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.78.

Teva Pharmaceutical Industries Price Performance

Shares of Teva Pharmaceutical Industries stock opened at $34.21 on Friday. Teva Pharmaceutical Industries has a twelve month low of $14.99 and a twelve month high of $37.35. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.70. The company has a 50-day simple moving average of $32.82 and a two-hundred day simple moving average of $31.63. The stock has a market capitalization of $39.34 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 3.51 and a beta of 0.84.

Teva Pharmaceutical Industries (NYSE:TEVA - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.53 earnings per share for the quarter. Teva Pharmaceutical Industries had a net margin of 9.01% and a return on equity of 43.53%. The business had revenue of $3.98 billion during the quarter. Analysts forecast that Teva Pharmaceutical Industries will post 2.36 EPS for the current year.

Insider Activity at Teva Pharmaceutical Industries

In related news, CAO Amir Weiss sold 10,679 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $36.00, for a total transaction of $384,444.00. Following the sale, the chief accounting officer directly owned 20,016 shares of the company's stock, valued at approximately $720,576. The trade was a 34.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Sabag sold 144,180 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $34.99, for a total transaction of $5,044,858.20. Following the sale, the insider directly owned 80,760 shares in the company, valued at $2,825,792.40. This trade represents a 64.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 421,470 shares of company stock worth $14,570,945 in the last ninety days. Insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of Teva Pharmaceutical Industries during the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its holdings in Teva Pharmaceutical Industries by 547.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 893 shares of the company's stock worth $27,000 after acquiring an additional 755 shares during the last quarter. Allworth Financial LP grew its holdings in Teva Pharmaceutical Industries by 53.8% during the 4th quarter. Allworth Financial LP now owns 941 shares of the company's stock worth $29,000 after acquiring an additional 329 shares during the last quarter. Grove Bank & Trust grew its holdings in Teva Pharmaceutical Industries by 300.0% during the 4th quarter. Grove Bank & Trust now owns 1,000 shares of the company's stock worth $31,000 after acquiring an additional 750 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Teva Pharmaceutical Industries by 51.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,011 shares of the company's stock worth $32,000 after acquiring an additional 345 shares during the last quarter. 54.05% of the stock is owned by institutional investors.

Key Headlines Impacting Teva Pharmaceutical Industries

Here are the key news stories impacting Teva Pharmaceutical Industries this week:

• Positive Sentiment: Teva reported new real-world survey data showing AUSTEDO and AUSTEDO XR improved quality-of-life measures for Huntington’s disease chorea patients and reduced caregiver strain, supporting the outlook for one of its key branded medicines. Article Title
• Positive Sentiment: Teva expanded its European biosimilars business with the launch of AHZANTIVE, strengthening its growth strategy and broadening its presence in ophthalmology. Article Title
• Neutral Sentiment: Industry coverage highlighted Teva as a generic-drug stock to watch as biosimilars, complex generics and specialty drugs become increasingly important growth drivers. Article Title

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Ltd. NYSE: TEVA is an Israeli multinational pharmaceutical company and one of the world's largest manufacturers of generic medicines. The company's core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva's product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.

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